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Malibu Deal of the Year!!! |
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It is not often that I would admit that a asking price for a home in Malibu is reasonable, but this is literally the deal of the year.
31946 Pacific Coast Hwy in our very own Malibu, California has just hit the market after the bank finally decided to take it back. This REO is listed for only $1,649,900 after being originally listed at at $3.75 Million just over a year ago!!! “Beautiful 4 bedroom home set in a tropical environment. Gated entry leads to private enclave JUST STEPS FROM THE BEACH. Features include: Living room with fireplace and wall to wall windows taking advantage of the ocean and sunset views. Wrap around balcony overlooks the backyard with stone pool and spa with plenty of open grass area. Gorgeous interior and exterior finish work with lots of wood and natural stone. Guest quarters with fireplace, private bath and outside entrance.” (Listed by Mark Arico of Arico & Assoc.) For pictures please click HERE. Additional photos can also be found HERE. I repeat ----- this is the DEAL OF THE YEAR, HANDS DOWN for all MALIBU REAL ESTATE!!!
This house is going to go into multiple offers for sure, but will without a doubt be a steal for the buyer. It can be shown anytime, any day but it isn’t going to last long.
Give a call and I’ll send you the set up sheet with more information and details about getting in to view this house today.
Shen Schulz
310.980.8809 |
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RHCP's Flea Malibu Bluff Estate Back on the Market |
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 Being a Malibu Realtor has its advantages, even when the economy seems to be turned a little upside down. Last week I was fortunate enough to go to Game 5 of the Lakers v Rockets series and watch the world renown bassist Flea perform the Nation Anthem during the pre-game festivities.
Little did I know, founding member of six-time Grammy winning band The Red Hot Chili Peppers had recently put his house on the market here in Malibu. Property website here. Malibu local and legendary bass guitarist Michael Balzary, better known as Flea has just listed his bluff estate on the western end of Malibu for $13,676,000. The 4 bedroom + 4 bath home sits on an incredible two flat acres with private staircase and road to the beach.
He bought the property back in 2006 for just under $10M according to the MLS and is now moving on to a Los Feliz home that he just finished restoring.
But not to worry, Flea’s move does not mean that the six-time Grammy-winning bassist will be gone forever. Rumor has it that he is currently working on building a house on another one of his Malibu properties. |
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Read more... [RHCP's Flea Malibu Bluff Estate Back on the Market]
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Turn Those Red Flags Green |
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When selling a home, two situations may occur which are red flag indicators of a lengthy sale time. Each requires the property owners' attention in cooperation with their sales agent, and involves either the price or condition of the home.
The first involves a home that has been on the market for 60-90 days, but has been shown only once or twice. More buyers are beginning to enter today's real estate market, and homes for sale should be attracting a number of prospects.
When buyers choose not to tour a home, the reason is often the price. Homes that are attractive, but not being shown, are often priced “above” the market. The key to increased showings, then, is to learn the market price of the home, then reset the price.
The second “red flag” occurs when a home is being shown often, but neither sells nor attracts offers. The home's condition is often the culprit in this situation. Buyers learn the price, then drive by, making a judgment that it is an attractive home. Once they see the home, however, their interest evaporates.
The solution can be a critical “walk-through” by the sellers' agent to identify needed repairs and cosmetic improvements. Until corrected, traffic is likely to remain high, while the chances of selling remain low. Remove these red flags and prepare for a sale! |
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Read more... [Turn Those Red Flags Green]
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Buyers are Gaining Steam |
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A recent profile of buyers and sellers compiled by the National Association of REALTORS® has revealed promising, if not surprising statistics about the changing face of the marketplace. The percentage of first-time buyers is on the rise, and they are making their purchases for the long term.
Frankly, this makes sense, because first-time buyers aren't struggling with the sale of an existing home. Combine that advantage with low home prices, large inventories, and low interest rates, and the result is a positive trend for both buyers and sellers.
Recently enacted tax credits and modifications in the Federal Housing Administration are also helping buyers, along with predicted increased credit flow from a federal funds injection into the banking system. More buyers entering the marketplace means more sales, reduced inventories, and increasing home values.
The profile of sellers shows that over 90% used a real estate brokerage to market and sell their property. Buyers profiled listed the most important agent services as helping to find the right home and negotiate satisfactory terms and price.
If you're planning a purchase, and need funds for a down payment, learn from buyers in the study who mostly used savings or a gift from family, and who also chose a fixed-rate mortgage over 90% of the time. Consult with a trusted agent today, and get on board the home ownership train.
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Read more... [Buyers are Gaining Steam]
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National Association of Realtors Census on Marketing |
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84% of homebuyers used the Internet as an information source.
When asked where they first learned about the home purchase:
- 34% of buyers identified a real estate agent
- 29% the internet
- 14% from yard signs
- 8% from a friend, neighbor or relative
- 8% home builders
- 3% print or news paper advertisement - which ironically enough is what realtors spend the most on!!!!!!
When I first got into the realestate market years ago, I was blown away at what people spent on newspaper ads and magazine ads, some of the cost upwards to 1000s of dollars a page. Crazy huh? That is why my business focus has shifted from the printed ads to the rising global internet economy. |
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Read more... [National Association of Realtors Census on Marketing]
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